Andrew just purchased a new boat for $15,000 to use on the river near his home. He has received delivery of the boat, and agreed to the terms of the following loan: all principal and interest is due in three years (balloon loan), first year annual interest (on the purchase rice) is set at 5%, this is to be adjusted up 1.5% per year for each of the following years of the loan. How much does Andrew owe to pay off the loan in three years?